Meyer Burger H1/2020 Net Loss CHF -38.6 Million

H1/2020 Financial Results For Meyer Burger Clouded By Strategic Realignment & COVID-19; Reports CHF -38.6 Million Net Loss
03:43 AM (Beijing Time) - 16. August 2020
Presentation2

Meyer Burger’s H1/2020 business results showed the impact of its ongoing strategic transformation a from an equipment manufacturer to an HJT solar cell and module maker, aiming to start production from Q2/2021. (Source: Meyer Burger Technology Ltd)

Key Takeaways

  • Meyer Burger’s H1/2020 net revenues were CHF 51 million and suffered net loss of CHF -38.6 million
  • Incoming orders were a total of CHF 32.2 million and orders on hand amounted to CHF 76.1 million
  • Raised around CHF 24 million from the sale of microwave and plasma technology business

The Switzerland headquartered solar PV equipment supplier Meyer Burger Technology Ltd , which is en route to turning into a full-fledged solar cell and module manufacturer using its heterojunction (HJT) technology, shared a mixed bag of financial results. The internal strategic realignment coupled with the COVID-19 pandemic had the company’s net revenues during H1/2020 at CHF 51 million ($56 million), compared to CHF 110.2 million it reported last year (see Meyer Burger: Over 47% Less Net Sales In H1/2019).

EBITDA for Meyer Burger in the first half of 2020 was a negative CHF -27.5 million ($30 million) and it suffered a net loss of CHF -38.6 million ($42 million). Incoming orders of CHF 32.2 million ($35 million) were reported by the company. Going forward, it wants to produce it HJT PV equipment exclusively for self-use (see Meyer Burger Details Captive HJT Business Model). Orders on hand for testing and other equipment in the reporting period amounted to CHF 76.1 million ($83 million).

As for the transformation plan, the company successfully completed a capital increase with gross proceeds of CHF 165 million (see Shareholders Approve CHF 165 Million For Meyer Burger). It also raised around CHF 24 million ($26 million) from the sale of microwave and plasma technology company Muegge GmbH.

It plans to start in-house solar cell and module production in Q2/2021 from fabs that previously belonged to Sovello and SolarWorld in Germany (see Meyer Burger Selects German Locations For PV Production).

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

Write, follow the author.
Email

Anu Bhambhani